RXi Pharmaceuticals (RXII) Picking Up Steam

RXi Pharmaceuticals (RXII) Picking Up Steam

Picked By James E. Brumley
Picked: July 12, 2011 7:33:15 AM PDT
Rating

RXi Pharmaceuticals Corporation (NasdaqCM: RXII) - Open

Symbol Position Allocation Picked Current Price
RXII Long 5% $1.3800 $0.0000 -100.00%


Opened July 12, 2011 7:33:15 AM PDT
Closed -
Risk Medium
Target Date September 12, 2011
Target Price $2.1800
Timeframe Short-Term
Suggested Stop Loss $1.1500
Holding No Position
Disclosure
NA

After thinking about it - and watching the RXII chart - for a few days after posting a bullish outlook on the 6th, I'm going to put my virtual money where my mouth is and add this small cap biotech stock to my public portfolio.   

To give credit where it's due, Bryan Murphy was all over RXII back at the beginning of the rebound; I think his first mention was on May 26th when it closed at $1.09. It's now at $1.33. Still, I love the way this chart has showed a shift from lower lows to higher highs, with both the rebound efforts since the May bottom coming on string volume. I think RXi Pharmaceuticals is good for a move up to the $2-ish area. Past that, we'll see. 
 

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James E. Brumley is a paid contributor of the SmallCap Network. James E. Brumley's personal holdings should always be disclosed. You can also view SmallCap Network's complete disclaimer and disclosure.

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